Housekeeping, Reminders and Updates – April 2017

Written by: Mark E. Ruddy, Esq. Jessica I. Brown, CAMS FINANCIAL CRIMES ENFORCEMENT NETWORK Update to FATF List of Jurisdictions with AML/CFT Deficiencies On April 5, 2017, the Financial Crimes Enforcement Network (“FinCEN”) issued an advisory announcing that the Financial Action Task Force (“FATF”) updated its lists of identified jurisdictions with strategic deficiencies in their frameworks to combat money laundering and the financing of terrorism and proliferation. The purposes of FATF’s lists are to track and monitor compliance with the international anti-money laundering and countering the financing of terrorism (“AML/CFT”) standards. The changes to FATF’s list may affect US financial…